Banxico: Deposits abroad are decreasing

With less volatility in the international financial markets , resources deposited in f oreign banks or in financial investments outside Mexico are decreasing, confirmed the Bank of Mexico ( Banxico ) and Mexico's Tax Administration Service ( Servicio de Administración Tributaria abbreviated SAT ).

Banxico reported in the second quarter of this year that Mexicans had resources abroad for USD$ 208 million .

This represents a decrease compared to the second quarter of 2016 when an amount of USD$ 2.30 million was reported. The amount reported by Banxico in that period fell considerably compared to the deposits and accounts abroad of Mexicans observed between January and March of this year, when the amount was USD$ 14,359 million .

Banxico assured that despite the uncertainty regarding economic policy and growing geopolitical risks, international financial markets showed a steady reduction in their volatility levels and an increase in the price of assets .

The capital inflow and outflow registration carried by Banxico resulted in a deficit of USD$ 321 million in the current account.

This was an equivalent of 0.1% of the Gross Domestic Product ( GDP ). The negative balance decreased compared to the 2.6% recorded in 2016 .

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